Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[london_lad]

Yes I have not. I am currently on a £145 loss. I have done this many times in past (ie, to close positions getting spooked) and then the market goes in my direction. This time I want to ride this for a few days.

My strategy is that stop losses should only be on shorts, and buy on weakness or at breakouts. Unfortunately I bought at the false breakout (I bet a lot of you thought, we broke 4700 yesterday, there were many 10M candles above 4700 than ever before since last year October).

My next long target is 4618 (ie, Buy at every 100 pips dip). Currently I am on £2 per pip, and max will go upto £10 per pip (buying at interval of every 100 points dip).

This is the strategy, but will appreciate any comments.

 

[wallstreet1928]

Good morning chaps

just woke up .............

Euro at tipping point and trading sideways

oil 72.2 level proving hard to get through

day off work so I can relax

let me upload a chart

 

[SuddenDeath]

RSI5 buys stop 4650.5 (9.30 10min bar)

 

[Mr. G]

LL - sounds like you are adopting more of a position based swing trading strategy than day trading per se. Have you read Marc Rivalland's book?

 

[Chelski]

RSI5 buys stop 4650.5 (9.30 10min bar)

Agree, but I have a support line / now resistance of Wed / Thursday lows. i would like to se it close above as well on this entry. Possible bear flag on 10M

 

[kaisen]

Yes I have not. I am currently on a £145 loss. I have done this many times in past (ie, to close positions getting spooked) and then the market goes in my direction. This time I want to ride this for a few days.

My strategy is that stop losses should only be on shorts, and buy on weakness or at breakouts. Unfortunately I bought at the false breakout (I bet a lot of you thought, we broke 4700 yesterday, there were many 10M candles above 4700 than ever before since last year October).

My next long target is 4618 (ie, Buy at every 100 pips dip). Currently I am on £2 per pip, and max will go upto £10 per pip (buying at interval of every 100 points dip).

This is the strategy, but will appreciate any comments.

The only comment i would make is make sure your analysis is correct and make sure you know what your strategy is.
Sometimes it can be easy to think one thing one day and another thing another day and you make a loss in between.

Best of luck, keep us posted

 

[london_lad]

I have it all worked out on a spreadsheet giving me signal for my next buy. I was tempted to go long again at 4640 area, but NO. I am sticking to my strategy of going long only at 100 or more dip from my previous long position - have set up SMs alerts and all for that as well.

 

[london_lad]

LL - sounds like you are adopting more of a position based swing trading strategy than day trading per se. Have you read Marc Rivalland's book?

Havent read the book, but will do if you recommend?

I have decided that daytrading is not for me. Too hectic, many errors and markets are just too irrational in short intraday trading. Many times market goes in my direction only when I have exited or when I am too afraid to enter.

Plus I am not doing this full time, I got a 100k plus day job to keep as well

 

[Splitlink]

Yes I have not. I am currently on a £145 loss. I have done this many times in past (ie, to close positions getting spooked) and then the market goes in my direction. This time I want to ride this for a few days.

My strategy is that stop losses should only be on shorts, and buy on weakness or at breakouts. Unfortunately I bought at the false breakout (I bet a lot of you thought, we broke 4700 yesterday, there were many 10M candles above 4700 than ever before since last year October).

My next long target is 4618 (ie, Buy at every 100 pips dip). Currently I am on £2 per pip, and max will go upto £10 per pip (buying at interval of every 100 points dip).

This is the strategy, but will appreciate any comments.

Do you keep an eye on this thread?

These guys like to trade for a longer term, too. My opinion is that you need deep pockets but,still, everyone to his own preferences. Next time I post to you I'll have your daily trading preferences in mind.

http://www.trade2win.com/boards/uk-indices/49208-swingin-ftse-2009-a-63.html#post857920

 

[SuddenDeath]

Mr G , Mark Rivalland was on CNBC yesterday, u can...

LL - sounds like you are adopting more of a position based swing trading strategy than day trading per se. Have you read Marc Rivalland's book?

...watch him from the CNBC/video then search for rivalland

http://search.cnbc.com/main.do?keywords=rivalland&sort=date&minimumrelevance=0.2&image.x=0&image.y=0

 

[tradernew]

S&P around 1000 point, valuation is too high. Long side potential is very low for time being, expect sudden moves downside on profit taking, short term correction. market needs fresh money on the table to take it to next level up. SELL any upside move is my opinion for near future, but i get it wrong more than get it right, so dont listen to me))

 

[wallstreet1928]

Yes I have not. I am currently on a £145 loss. I have done this many times in past (ie, to close positions getting spooked) and then the market goes in my direction. This time I want to ride this for a few days.

My strategy is that stop losses should only be on shorts, and buy on weakness or at breakouts. Unfortunately I bought at the false breakout (I bet a lot of you thought, we broke 4700 yesterday, there were many 10M candles above 4700 than ever before since last year October).

My next long target is 4618 (ie, Buy at every 100 pips dip). Currently I am on £2 per pip, and max will go upto £10 per pip (buying at interval of every 100 points dip).

This is the strategy, but will appreciate any comments.

I'm sorry but i can't advise you under the FSA rules as Sir William once told me.........

but what I can say is what i would do ?

If I were swing trading and had a long open on FTSE @ 4700 and the market showed signs of failure...........

I would short the DAX or S&P as a hedge against any down fall!!

what you will find that every 50 points the FTSE falls, the DAX falls 70-80 .....

once you make 70-80 on DAX .......the FTSE only has to rise back 20-30 points for you to break even, and anything above that will be profit

 

[Geofract]

Yes I have not. I am currently on a £145 loss. I have done this many times in past (ie, to close positions getting spooked) and then the market goes in my direction. This time I want to ride this for a few days.

My strategy is that stop losses should only be on shorts, and buy on weakness or at breakouts. Unfortunately I bought at the false breakout (I bet a lot of you thought, we broke 4700 yesterday, there were many 10M candles above 4700 than ever before since last year October).

My next long target is 4618 (ie, Buy at every 100 pips dip). Currently I am on £2 per pip, and max will go upto £10 per pip (buying at interval of every 100 points dip).

This is the strategy, but will appreciate any comments.

Sounds like a recipe for disaster to me! Why no stops on your long positions? Why buy at every 100 points - do you think we're in a bull market? Will you still want to be long if the market $hits its self, and hits 3500 again? When do you decide to exit?

No risk management from what i can see.

Have a read of Rivallands book, I'm sure that would help. Currently what I see is bad entries, with losses being left to run, and that you have no strategy. Rivallands strategy is not bad, albeit a little blunt. The guys in this thread http://www.trade2win.com/boards/uk-indices/49208-swingin-ftse-2009-a-63.html#post857920 use the rivalland method.

Just being honest LL - I wouldn't want to see anyone blow up!

 

[Mr. G]

Havent read the book, but will do if you recommend?

I have decided that daytrading is not for me. Too hectic, many errors and markets are just too irrational in short intraday trading. Many times market goes in my direction only when I have exited or when I am too afraid to enter.

Plus I am not doing this full time, I got a 100k plus day job to keep as well

Likewise for me. Got badly burned day trading a few years back so prefer the (relatively) longer TFs. Fits better with other commitments too.

I’d recommend the book but get the full price colour one rather than the rip-off b&w version as the charts are much clearer. I also did his course back in June which was good.

 

[ian23]

Bloody hell i am having a bad day

 

[Chelski]

trading flat, but had a nice message from a young lady in US who wants me to email her!!

 

[masnachu]

E$ has bounced slightly from the 50% fib level of the previous swing. Bias is still up if I counted correct?

I am looking for a long position, but prefer 14300, 61.8% fib, and high of 26th, if it gets there.

Supp @ 300 sounds like a reasonable assumption (I have no opinion on the Fib though).

I'm not getting what your doing with the arrows or some of the dashed lines though ?? are you using some kind of short hand ? or other method other than ring bars.

 

[masnachu]

trading flat, but had a nice message from a young lady in US who wants me to email her!!

You lucky &^&%^"&* , I'm still getiing nothing but russkies

 

[Chelski]

You lucky &^&%^"&* , I'm still getiing nothing but russkies

I'll forward you her address

 

[kaisen]

I'll forward you her address

It isnt Alicia is it? LOL